Coldcard Wallet Flaw Exposes Years of Bitcoin Seeds After $70M in BTC Stolen
Bitcoin Magazine
Coldcard Wallet Flaw Exposes Years of Bitcoin Seeds After $70M in BTC Stolen
The popular Bitcoin hardware wallet Coldcard product, made by Coinkite, is at risk following a $70 million hack.
Coinkite on Thursday admitted that its Coldcard Mk3 model was affected following the hack and advised users to move their funds. Then, on Friday, the company said that users of the later hardware devices Mk4, Mk5, and Q should also take precautions.
Hackers on Thursday were first able to drain funds from 1,196 Bitcoin addresses because their private keys were not generated using sufficient entropy — or randomness.
Since then, a total of 1,082.65 Bitcoins have disappeared from wallets, according to data from Galaxy Research and engineers at payments company Block.
While Coinkite has not admitted that the hack is linked to their wallets, the company has said that a wallet seed generation bug in Coldcard products meant the hardware’s true random number generator wasn’t actually being used on certain firmware versions.
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